The S&P BSE Healthcare index was trading 1.14 per cent down at 13,215.03 around 12:03 pm (IST).

Global brokerage CLSA maintained ‘Sell’ on drug major Sun Pharma with a target price of Rs 370. The scrip was trading at Rs 3.14 per cent at Rs 477.90. Target price is nearly 30 per cent lower than the current market price.

Reacting to the development, other pharma companies were also trading in the red.

Nifty50 index was trading 42 points lower at 9,910, while the 30-share Sensex was 167 points down at 31,642 around the same time.

Stocks such as Anuh Pharma (up 4.06 per cent), Mangalam Drugs and Organics (up 3.66 per cent), Merck (up 3.18 per cent), Vivimed Labs (up 3.12 per cent) and Dishman Pharmaceuticals & Chemicals (up 2.87 per cent) were among the gainers in the healthcare index.

Besides healthcare, realty, FMCG and bank stocks were also reeling under selling pressure.